Does money matter in shaping domestic business cycles? An international investigation (with appendices)
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- dc.contributor.author Canova, Fabioca
- dc.contributor.author Menz, Tobiasca
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2017-07-26T12:07:55Z
- dc.date.available 2017-07-26T12:07:55Z
- dc.date.issued 2009-07-01
- dc.date.modified 2017-07-23T02:13:33Z
- dc.description.abstract We study the contribution of money to business cycle fluctuations in the US, the UK, Japan, and the Euro area using a small scale structural monetary business cycle model. Constrained likelihood-based estimates of the parameters are provided and time instabilities analyzed. Real balances are statistically important for output and inflation fluctuations. Their contribution changes over time. Models giving money no role provide a distorted representation of the sources of cyclical fluctuations, of the transmission of shocks and of the events of the last 40 years.
- dc.format.mimetype application/pdfca
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1242
- dc.identifier.citation Journal of Money, Credit and Banking, 43(4), 577-609, 2011
- dc.identifier.uri http://hdl.handle.net/10230/11716
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1242
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword money
- dc.subject.keyword business cycles
- dc.subject.keyword shock transmission
- dc.subject.keyword inflation dynamics.
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Does money matter in shaping domestic business cycles? An international investigation (with appendices)ca
- dc.type info:eu-repo/semantics/workingPaper